0.50 Pesetas La Garganta

La Garganta is a small municipality in the comarca of Ambroz, Cáceres province, Extremadura. Like hundreds of Spanish towns during the Civil War, it issued its own fractional paper currency in 1936–37 when coins vanished from circulation entirely — hoarded, melted, or simply gone. These local emergency issues, collectively catalogued under the broader "Guerra Civil" municipal series, were produced without central authority and vary wildly in printing quality and paper stock.

The thick card stock used here was a common workaround when proper banknote paper was unavailable. Many of these hyper-local issues survived only in tiny quantities, often because the issuing municipality was too small to ever fully redeem them.